The answers to the Bank of Italy will be dealt with in the next Board meeting on 19 February on the half-yearly results. This is what emerged from financial sources at the end of the Mediobanca board meeting which will give the answers both on the consultative document on governance sent by via Nazionale to all the Italian banks and on the inspection report delivered today to Piazzetta Cuccia. Consultations will be held in the next few days and the committees will meet to formulate the answers. It is not excluded that another board meeting will also be held before the 19th.
Mediobanca director Dieter Rampl said that today the bank's board has only started reflecting on governance. “We started discussing today, we will see the evolution,” he said at the end. In fact, today's board of directors discussed how to organize the work, since the inspection report was delivered by the Bankitalia delegation to the president of Mediobanca, Renato Pagliaro who read some passages to the board of directors, but the directors have not yet examined it individually . On the possibility of an extraordinary meeting before October, Rampl specified that “It is not yet clear. We are only in January, the year has just begun”. “No comment” by Rampl, on the hypothesis that the number of directors will be reduced.
The Mediobanca syndicate pact will hardly be able to deal with governance review as early as the meeting scheduled for 19 February. "We're far behind, we can't make it," sources close to the pact said. As it emerges, among the large shareholders, there would not already appear to be any defined guidelines on the amendments to the union agreement. Much will depend on the governance review that will become necessary on the basis of Bank of Italy's indications. Always sources of the pact have clarified that Vincent Bolloré has not at the moment formalized a request to increase his union share in the institute from the current 6% to 8%.
From the Bank of Italy front, general manager Carmelo Barbagallo, questioned at the Piazzetta Cuccia exit, said it was a routine inspection. "It's all very ordinary," he said, there's "no particular emphasis."
